May 4 - DP World has been granted a concession by the government of the Republic of Cyprus to develop and operate breakbulk capacity at the Cypriot Port of Limassol.
This is a 25-year concession for the exclusive right to operate the multipurpose terminal, which handles breakbulk, general and ro-ro cargoes, and has a passenger terminal.
"We believe in the long-term prospects of Cyprus and the potential for DP World, as a facilitator of trade, to maximise the potential of Limassol port. Cyprus is now the ninth country where DP World invests and operates within Europe," said Sultan Ahmed Bin Sulayem, ceo of DP World.
Until January 29, 2017, the Cyprus Port Authority will continue to operate the port during a transition period.